What’s happening
Shares of General Motors (NYSE: GM) traded higher on Monday, a day after the company considered its increased focus on electric vehicles (EVs) in a widely viewed ad during the Super Bowl.
As of 14:30 EST, GM’s shares are about 3.7% higher than Friday’s closing price.
Approximately
In GM’s Super Bowl ad, actor Will Ferrell was a tongue-in-cheek challenge for Norway, the country with the highest number of adoptions in the world. The ad was preceded by a few days of suggestions and tips on social media, which received reactions from, among others, Norwegian politicians and rival car manufacturers.
GM’s Super Bowl ad features Will Ferrell and several new GM electric vehicles, including the Cadillac Lyriq SUV. Image Source: General Motors.
In the broader bet, GM is making a big bet on EVs and wants to know the world. The Super Bowl ad was part of a new marketing campaign launched last month called “Everybody In,” which focuses on three themes:
Why is GM’s stock up today? In the first place, the ad was nice. But even more, the stock of electric vehicles has been white-hot for months, and one of the points GM is hoping with its new campaign is that its stock will also become an EV share.
Now what
Car investors do not have to wait long to hear more about GM’s EV pressure from CEO Mary Barra and other senior GM executives. The company is expected to report its earnings in the fourth quarter and full year 2020 before the market opens on Wednesday, February 10th.